One of the Best Pieces on Free Markets I’ve Ever Read

I think it is really important for people to understand the environment where laissez-faire capitalism was born and brought into play. To oversimplify the matter a lot, it was brought to realization during the French Revolution after ousting the king. We are, of course, all familiar with how economics worked in the days of feudalism. You had lords at the top who owned everything and peasants at the bottom who made everything work, but go pretty much nothing. Exploitation was the law of the land. Markets weren’t regulated, they where dictated, as well as all of life. Capitalism was a very liberal idea brought about to free the people from economic slavery. There really just wasn’t a more progressive notion at the time than laissez-faire capitalism. Even during the worst of times during the Great Depression where better than being a commoner in the old monarchy. In that light, I am happy to be in a position to have this debate rather than living under the old system.

I think it is really important for people to understand the environment where laissez-faire capitalism was born and brought into play. To oversimplify the matter a lot, it was brought to realization during the French Revolution after ousting the king. We are, of course, all familiar with how economics worked in the days of feudalism. You had lords at the top who owned everything and peasants at the bottom who made everything work, but go pretty much nothing. Exploitation was the law of the land. Markets weren’t regulated, they where dictated, as well as all of life. Capitalism was a very liberal idea brought about to free the people from economic slavery. There really just wasn’t a more progressive notion at the time than laissez-faire capitalism. Even during the worst of times during the Great Depression where better than being a commoner in the old monarchy. In that light, I am happy to be in a position to have this debate rather than living under the old system.